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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash Flows From Operating Activities:    
Net income $ 204.5 $ 163.2
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of intangible assets 91.6 92.4
Depreciation 25.6 21.6
Non-cash restructuring charges 0.0 0.9
Stock-based compensation expense 14.1 12.1
Loss (income) on equity method investments 10.7 (0.3)
Foreign currency transaction losses (gains), net (0.7) 1.0
Non-cash adjustments to carrying value of LIFO inventories 6.7 7.8
Other non-cash adjustments 1.4 2.9
Changes in assets and liabilities:    
Receivables (11.5) (83.7)
Inventories (58.2) (45.3)
Accounts payable (101.5) (70.6)
Accrued liabilities (1.8) 56.5
Other assets and liabilities, net (19.3) 11.8
Net cash provided by operating activities 161.6 170.3
Cash Flows Used In Investing Activities:    
Capital expenditures (62.3) (22.4)
Net cash paid in acquisitions (143.3) (566.4)
Disposals of property, plant and equipment 0.0 7.3
Net cash used in investing activities (205.6) (581.5)
Cash Flows Used In Financing Activities:    
Principal payments on long-term debt (7.1) (11.0)
Purchases of treasury stock (72.9) (77.0)
Cash dividends on common shares (8.1) (8.1)
Proceeds from stock option exercises 11.2 9.2
Payments of deferred and contingent acquisition consideration (2.2) (1.9)
Other financing (0.5) (0.5)
Net cash used in financing activities (79.6) (89.3)
Effect of exchange rate changes on cash and cash equivalents (19.6) 6.8
Net decrease in cash and cash equivalents (143.2) (493.7)
Cash and cash equivalents, beginning of period 1,595.5 1,613.0
Cash and cash equivalents, end of period 1,452.3 1,119.3
Supplemental Cash Flow Information    
Cash paid for income taxes, net of refunds 43.5 19.1
Cash paid for interest, net of interest rate derivative settlements $ 58.2 $ 36.1